Raser Technologies (RZ) Gets A Boost With $15 Million In Financing

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09:34:57 am on October 5, 2010

It’s been a mighty rough go for Raser Technologies (RZ) in recent months and if the stock price is any indication, many traders feel the company may not survive.  Well, the company is finally getting some positive news which could lead to a recovery in the short term.

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It was announced this morning that a collaboration of FE Energy Group and Evergreen Clean Energy LLC will infuse $15 million into the Lighting Dock Geothermal Project in New Mexico in exchange for a 51% controlling interest.  Raser will develop and manage the project

George Sorenson, Chairman of FE Clean Energy Group, commented, "We are excited to move forward with Raser and believe the Lightning Dock project will be a successful project providing clean, renewable energy to residents in Phoenix, Arizona."

Shares of RZ are up about 14% today, but that’s not saying much considering the stock was trading at just .20/share.

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